Ambarella (NASDAQ:AMBA) Insider Chan Lee Sells 2,951 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) insider Chan Lee sold 2,951 shares of Ambarella stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.87, for a total transaction of $200,284.37. Following the completion of the sale, the insider owned 157,098 shares of the company’s stock, valued at $10,662,241.26. This trade represents a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ambarella Stock Up 6.2%

NASDAQ AMBA opened at $69.97 on Friday. The firm has a 50-day moving average price of $70.60 and a two-hundred day moving average price of $66.68. Ambarella, Inc. has a 12-month low of $48.30 and a 12-month high of $96.69. The company has a market capitalization of $3.07 billion, a P/E ratio of -43.46 and a beta of 2.15.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, May 28th. The semiconductor company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. The company had revenue of $100.36 million for the quarter, compared to analysts’ expectations of $100.12 million. During the same period last year, the firm earned $0.07 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. Equities analysts expect that Ambarella, Inc. will post -1.13 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMBA. Susquehanna upped their price target on shares of Ambarella from $80.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Stifel Nicolaus set a $106.00 target price on Ambarella in a report on Friday, May 29th. Bank of America lifted their price target on Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Summit Insights downgraded Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Finally, Consumer Edge reaffirmed a “buy” rating on shares of Ambarella in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.50.

Institutional Trading of Ambarella

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Ambarella by 2,312.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 864,610 shares of the semiconductor company’s stock worth $61,250,000 after buying an additional 828,773 shares in the last quarter. UBS Group AG boosted its holdings in shares of Ambarella by 379.3% during the 3rd quarter. UBS Group AG now owns 821,747 shares of the semiconductor company’s stock valued at $67,811,000 after acquiring an additional 650,306 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Ambarella during the 2nd quarter worth $36,810,000. The Manufacturers Life Insurance Company increased its holdings in Ambarella by 49.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,586,082 shares of the semiconductor company’s stock worth $81,644,000 after purchasing an additional 524,937 shares in the last quarter. Finally, Barclays PLC increased its holdings in Ambarella by 121.7% in the 3rd quarter. Barclays PLC now owns 775,113 shares of the semiconductor company’s stock worth $63,962,000 after purchasing an additional 425,546 shares in the last quarter. Institutional investors own 82.09% of the company’s stock.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.